4 ms·

Multiple apartments should be more profitable than a single family luxury home.

• orionsbelt 2y ago
  Not in some of these areas. This was some of the best real estate in the country. $80M homes burned down.
  • whimsicalism 2y ago
    generally “most expensive real estate in country” is where profits from apartments/condos is highest, not the other way around
    • orionsbelt 2y ago
      Not up in the hills or on oceanside lots on the Pacific Ocean next to the PCH. I’m no builder, but my sense is, even if the zoning were relaxed, you are at best building like a quadplex. Four apartments are not going to equal an $80M home. Maybe in the flats of the palisades.
  • ta1243 2y ago
    $70m of that $80m house is the land its on, and that hasn't been destroyed.
    • Ancapistani 2y ago
      It depends. How much of that location value was because of the views, proximity to LA proper, etc.? How much of it was due to the types of houses that were in those specific neighborhoods and the type of people that lived in them? If the "rich and famous" don't return to those neighborhoods and rebuild their multi-million dollar homes, those parcels will be worth significantly less.
• bilbo0s 2y ago
  Multiple luxury condos? Definitely. Multiple luxury apartments? Maybe? Depending on amenities and view. But multiple non luxury apartments for the hoi polloi? Not a chance. I challenge even the politicians championing non luxury apartments to run the numbers and make them work. They just don’t. People are out here advocating that we make multiple apartments available all under 3K. That’s insanity. The same space can easily be rented for much more than 3K. If I’m a developer, what’s my motivation to forgo that ludicrously high return? Being a good guy? I’ll take the return and make a donation to the boys and girls club instead thank you very much.